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Truck Leasing Pros and Cons Ardmore OK

A truck lease offers cost advantages for personal use, as well as tax and accounting advantages for business owners. Learn the difference between personal and commercial truck leasing.

Footlocker Mini-Storage
(580) 657-4090
Highway 70 West
Lone Grove, OK
 
Ardmore Discount Janitorial Supply
(580) 226-2698
100 3rd Avenue Northeast
Ardmore, OK
 
Red Door Storage
(580) 224-9800
202 North Plainview Road
Ardmore, OK
 
Hayes Mary
(580) 223-1797
802 Forest Lane
Ardmore, OK
 
Cleanco Janitor Supply
(580) 223-0895
2115 4th Avenue Northwest
Ardmore, OK
 
U-Haul Co
(580) 657-3986
102 Highway 70 W
Lone Grove, OK
 
Collier Transfer & Storage
(580) 223-4435
1211 South Commerce Street
Ardmore, OK
 
Carrell Trucking Inc
(580) 226-7811
3801 Springdale Road
Ardmore, OK
 
Ardmore Self Storage
(580) 223-0196
1900 Highway 142 East
Ardmore, OK
 
Lahoma Boat & Mini Storage
(580) 223-3714
3336 South Commerce Street
Ardmore, OK
 

Truck Leasing Pros and Cons

To lease a truck for personal use is no different than leasing a car or SUV. A lease offers lower monthly payments than buying with a loan, and may not require a down payment. There are also savings on sales tax in most states. Therefore, leasing may cost you less to get into a new truck, and can save you on monthly cost as well.

However, before making a decision about whether to lease or buy, understand that leasing is best for people who drive no more than about 15,000 miles per year, like to have a new truck every 3-4 years, take good care of their vehicles, don't care about building ownership equity, and have a stable lifestyle such that they won't need to end the lease early.

Ending a lease early can be very expensive. It's more than simply paying termination fees. It means paying the balance of the lease, considering the wholesale auction value of the truck. In most cases, ending a lease early is very impractical. Therefore, if you think you might not be able to complete a lease, then don't lease.

If you plan on using your truck for heavy duty or rough utility purposes, such that the body and bed might be badly damaged or scratched, you might not want to lease. The reason is you may have to pay for those damages at lease-end when you return your truck to the lease company. Any damages beyond "normal" wear and tear can result in charges to you. Of course, you could get the repairs done yourself prior to returning your leased truck. Or...

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